How much money should you save in order to have a baby?

Answer 1

My husband and I recently started an additional savings account for our family. We are not pregnant yet. However, we are very careful planners. We have also started a 529 education fund to be safe. The cost of college is outrageous! We even went as far as to create a living trust which was almost $1000. But, it's all worth it. The more you can save the better. Focus more on the medical expenses and less on baby items and furniture since there are so many options. Not to mention, you'll have baby showers and even family members with children can loan out items. I would buy a brand new crib and car seat however since safety regs change each year. There is no specific dollar amount you should be saving, but if I had to provide one - 3K would be a good place to start. Hope this helps!! Oh yeah and make an effort to reduce debt - especially credit cards.